Animal Medicine Market 2022 – Opportunities And Strategies – Global Forecast To 2030
The Business Research Company’s Animal Medicine Market 2022 – Opportunities And Strategies – Global Forecast To 2030
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As per The Business Research Company’s “Animal Medicine Global Market Report 2022”, the animal medicine market growth is predicted to reach a value of $41.20 billion in 2020, having increased at a compound annual growth rate (CAGR) of 5.3% since 2015. The The global animal medicine market size is expected to grow at a CAGR of 5.7% from 2020 to reach $54.31 billion in 2025. The increasing penetration of pet insurance is expected to drive the animal medicine industry.
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Key trends in the animal medicine market
The production of medicated feed additives is a major trend in the animal medicine market. Medicated feed additives in general help maintain animal health and promote growth and feed efficiency. They include vitamins, amino acids, fatty acids, pharmaceuticals, minerals, growth hormones and fungus. Animal medicines manufacturers have started increasingly producing medicated feed additives to improve efficiencies of production. For instance, in January 2020, Kemin Industries, a US-based ingredient manufacturer has launched VANNIX™ C4, a novel phytogenic feed additive for poultry gut health. VANNIX C4 is a probiotic feed additive formulation of gut-health-fortifying ingredients to minimize the impact of enteric challenges on poultry performance.
Animal Medicine Market Overview
The animal medicine market consists of sales of veterinary medicines and related services by entities (organizations, sole traders, and partnerships) that manufacture veterinary medicines used to treat animal diseases and/or to improve animals’ performance and health. The animal medicine industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals, and establishments that manufacture medical feed additives and nutritional feed additives.
Learn more on the global animal medicine market report at:
Animal Medicine Global Market Report 2022 from TBRC covers the following information:
Market size data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
• By Type: Veterinary Pharmaceuticals, Feed Additives
• By Type of Animal: Livestock, Companion Animals
• By End-Use: Veterinary Hospitals, Pharmacies And Drug Stores, Veterinary Clinics
• By Geography: The global animal medicine market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co, Evonik Industries AG, Patterson Companies Inc., Ceva Animal Health LLC
Trends, opportunities, strategies and so much more.
Animal Medicine Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of animal medicine global market. The market report analyzes animal medicine global market size, animal medicine global market growth drivers, animal medicine global market segments, animal medicine global market major players, animal medicine global market trends, animal medicine global market growth across geographies, and animal medicine market competitors’ revenues and market positioning. The animal medicine market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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November 14, 2022, 13:13 GMT
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